Flat Glass Market 2019 to 2024, key industry players & growth trends
Flat Glass Market from construction application should surpass USD 100 billion during forecast timeperiod. This growth in demand can be attributed to consumer emphasis on using aesthetic & energy efficient interiors. Increasing small scale construction projects should further enhance industry.
Rising automotive production along with advancement in flat glass production technology should contribute to expansion of industry. It is extensively used in automobile industry to manufacture windshields & windows for sun roofing and doors. Rising demand for luxury cars owing its sustainability, comfort, safety and style along with growing per capita income should catalyze product demand.
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Adoption of energy efficient & smart technology as advanced construction practice along with positive outlook in construction industry should favor flat glass market. Sizeable investments made by India and China for construction along with modernizing existing airport & terminals should influence flat glass product demand.
Rapid urbanization, rise in real estate sector and new product development are major driving forces behind flat glass industry growth. Growing solar energy market attributable to increasing renewable energy dependence should further bolster product demand. It is widely used in end-user products including facades & windows, solar panels and automotive windscreens.
Flat tempered glass market should surpass USD 40 billion by 2024 due to its wide application scope in residential & commercial construction projects. Its ability to break into small harmless pieces upon impact reducing the risk of injury should boost global product demand.
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China flat glass market should witness gains at over 7.1% during foreseeable timeframe owing to its flourishing construction and automobile industry. Improved living standards, growing population and increased foreign investments should boost product demand.
Stringent regulations and policies set forth by government and agencies to adopt green building products complying FEED and FEMA standards for safety application should favor product demand. Technological advancement with the intervention of nanotechnology and development of lightweight glazing glass and hybrid guide plate should bolster product demand.
Flat glass market price trend may be affected by demand supply deficit of key raw materials including soda ash, silica sand and natural gas. High transportation & production cost will further hinder industry growth. Adoption of green building along with emphasis on energy efficiency should propel industry growth.
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Laminated flat glass market should witness growth at over 7% during forecast timeframe owing to its increasing demand in safety applications. It is widely used in automotive windshield, exterior of storefront and curtain walls due to its ability to stay in place even after breaking upon impact.
Global flat glass market share is moderately fragmented with industry participants including Corning, Schott, Saint-Gobain, NSG Group, Asahi, Sisecam and Trulite. Manufacturers are shifting their production bases towards Asia Pacific to avail low labor wages, raw material availability and government subsidies.
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